PointsBet Shoots Down Rumors of Impending Demise

MELBOURNE — Australian online sportsbook PointsBet (pointsbet.com) is lashing out at suggestions that it is about to either merge with another company, be acquired by another company or fold completely.

 

The rumors are “definitely not true,” a PointsBet flack declared.

 

In recent days, Ryan Knuppel, a well-respected sports betting industry consultant who runs Knup Solutions (knupsolutions.com), directed his readers to an article reporting that PointsBet could soon be acquired by a larger rival online sportsbook.

 

And the website Casino.org reported that PointsBet has actually had talks with other online sportsbooks regarding a merger or acquisition.

 

The website also implied the Aussie book may simply fold because it “isn’t yet profitable” and reported that a former employee said the company “is sloppily managed.”

 

Gambling 911 reached out to PointsBet by email for comment on the rumors but did not get a reply back.

 

So a Gambling 911 reporter, posing as a potential new customer, engaged a PointsBet representative in a live chat conversation on the book’s website.

 

The rep was asked: “I read that you might be going out of business—can you tell me your status?”

 

The rep, who identified himself only as Jaden, replied: “Where did you read that?”

 

Told about the Gambling 911 story that reported the rumors, Jaden responded: “Definitely not true, but I’ll ask our team to review the site and potentially remove the article.”

 

Jaden was then asked if PointsBet was in “financial difficulty.”

 

He responded: “Not true. We are 100 percent not in financial difficulty.”

 

And are there any other issues, he was asked.

 

“Nothing at this present time,” came the response.

 

And what about the rumors of talks concerning a merger or acquisition, he was asked.

 

“I don’t know anything about that,” he said.

 

He was then asked if he knew where the rumors are coming from.

 

“I’m afraid not,” he said.

 

PointsBet is based in Australia’s second-largest city, but also has operations in other countries, including Canada and 10 U.S. states.

 

The rumors about the book’s future may have been sparked, at least in part, by the recent demise of rival sportsbook Fubo.

 

By Tom Somach

 

Gambling 911 Chief Correspondent